Randal's Rifles purchased some equipment by issuing a three-year 6% note for $8,000 when the market rate for an obligation of this nature was 8%. The interest is payable annually. Actuarial information for three periods follows:
6% 8%
Future amount of 1 1.191016 1.259712
Future amount of annuity of 1 3.183600 3.246400
Present value of 1 0.839619 0.793832
Present value of annuity of 1 2.673012 2.577097
At the date of purchase, what amount should be debited to Equipment?
a. $7,587.66
b. $6,716.96
c. $6,350.66
d. $6,633.70